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Home > Prudential Regulation Authority > Supervisory activities - Climate Change Adaptation Reporting

Supervisory activities - Climate Change Adaptation Reporting

Capital instruments  |  Climate Change Adaptation Reporting  |  Stress test scenario |  Remuneration Rules  |  Run-off  |  Skilled Person Reviews  |  Stress testing 

Under the UK Climate Change Act 2008, the Prudential Regulation Authority (PRA) received an invitation from the Department for Environment, Food & Rural Affairs (Defra) to submit a climate change adaptation report as part of the second round of adaptation reporting. Given the importance of the topic and its alignment with the PRA’s objectives, in April 2014 the PRA accepted Defra’s invitation, with a focus on insurance. 

On 29 September 2015, the PRA submitted, and published, its report to Defra:

 The impact of climate change on the UK insurance sector, September 2015 (2.5MB) 

On the same day, the Governor delivered a speech at Lloyd's of London discussing climate change, and the PRA's response to Defra.

The Bank’s work relating to systemic environmental risks now includes a number of topics  and the PRA continues to consider the impact of climate-related risks to regulated insurance firms through a mix of activities – please see the Climate change, green finance and financial stability page in Related Links.

This page will continue to host further updates and information on climate change adaptation reporting. Updates as at 21 September 2016 are available in the document below.

Climate change adaptation reporting: updates as at 21 September 2016